Gold price today October 1, 2024: World gold price drops more than 50 USD compared to record level
Gold price today October 1, 2024: 9999 gold ring price holds the highest price of 83.45 million VND. World gold price dropped more than 50 USD compared to the record peak of 2685 USD set on September 26
Domestic gold price today October 1, 2024
At the time of survey at 5:00 a.m. on October 1, 2024, the gold price on the trading floors of some companies was as follows:
The price of 9999 gold today is listed by DOJI at 82.75 million VND/tael for buying and 83.45 million VND/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 83-83.5 million VND/tael (buy in - sell out). The price of Mi Hong gold increased slightly by 300 thousand VND/tael for buying compared to yesterday.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 81.5-83.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.6-83.5 million VND/tael (buy in - sell out).
The latest gold price list today, October 1, 2024 is as follows:
| Gold price today | October 1, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 81.5 | 83.5 | - | - |
| DOJI Group | 81.5 | 83.5 | - | - |
| Mi Hong | 83 | 83.5 | +300 | - |
| PNJ | 81.5 | 83.5 | - | - |
| Vietinbank Gold | - | 83.5 | - | - |
| Bao Tin Minh Chau | 81.5 | 83.5 | - | - |
| Bao Tin Manh Hai | 81.6 | 83.5 | - | - |
| 1.DOJI- Updated: 10/1/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 81,500 | 83,500 |
| AVPL/SJC HCM | 81,500 | 83,500 |
| AVPL/SJC DN | 81,500 | 83,500 |
| Raw material 9999 - HN | 82,600▼100K | 82,850▼1150K |
| Raw materials 999 - HN | 82,500▼100K | 82,750▼1150K |
| AVPL/SJC Can Tho | 81,500 | 83,500 |
| 2.PNJ- Updated: 10/1/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 82,500 | 83,300 |
| HCMC - SJC | 81,500 | 83,500 |
| Hanoi - PNJ | 82,500 | 83,300 |
| Hanoi - SJC | 81,500 | 83,500 |
| Da Nang - PNJ | 82,500 | 83,300 |
| Da Nang - SJC | 81,500 | 83,500 |
| Western Region - PNJ | 82,500 | 83,300 |
| Western Region - SJC | 81,500 | 83,500 |
| Jewelry gold price - PNJ | 82,500 | 83,300 |
| Jewelry gold price - SJC | 81,500 | 83,500 |
| Jewelry gold price - Southeast | PNJ | 82,500 |
| Jewelry gold price - SJC | 81,500 | 83,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 82,500 |
| Jewelry gold price - Jewelry gold 999.9 | 82,400 | 83,200 |
| Jewelry gold price - 999 jewelry gold | 82,320 | 83,120 |
| Jewelry gold price - 99 jewelry gold | 81,470 | 82,470 |
| Jewelry gold price - 916 gold (22K) | 75,810 | 76,310 |
| Jewelry gold price - 750 gold (18K) | 61,150 | 62,550 |
| Jewelry gold price - 680 gold (16.3K) | 55,330 | 56,730 |
| Jewelry gold price - 650 gold (15.6K) | 52,830 | 54,230 |
| Jewelry gold price - 610 gold (14.6K) | 49,500 | 50,900 |
| Jewelry gold price - 585 gold (14K) | 47,420 | 48,820 |
| Jewelry gold price - 416 gold (10K) | 33,360 | 34,760 |
| Jewelry gold price - 375 gold (9K) | 29,950 | 31,350 |
| Jewelry gold price - 333 gold (8K) | 26,210 | 27,610 |
| 3.SJC- Updated: 10/1/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 81,500 | 83,500 |
| SJC 5c | 81,500 | 83,520 |
| SJC 2c, 1C, 5 phan | 81,500 | 83,530 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 81,500 | 83,000 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 81,500 | 83,100 |
| 99.99% Jewelry | 81,450 | 82,700 |
| 99% Jewelry | 79,881 | 81,881 |
| Jewelry 68% | 53,892 | 56,392 |
| Jewelry 41.7% | 32,139 | 34,639 |
World gold price today October 1, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,630.54 USD/Ounce. Today's gold price decreased by 22.88 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,300 VND/USD), the world gold price is about 81.16 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.33 million VND/tael higher than the international gold price.
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Despite the fall in world gold prices, the price of plain round gold rings in Vietnam remains unchanged, ranging from VND82.75 to VND83.45 million per tael. The uncertainty in the gold ring market is making investors consider whether now is a good time to invest.
The decision to invest in gold rings should be based on a deep understanding of the fundamentals and developments of the international gold market. The domestic gold ring market closely reflects the changes in the price of gold bars and gold in the world.
Currently, due to the temporary disruption in the supply of gold bars in some areas, the demand for gold rings has skyrocketed. The price of gold rings has increased to 83.45 million VND/tael, attracting the attention of many individual investors.
Mr. Nguyen Quang Huy, CEO of the Faculty of Finance and Banking at Nguyen Trai University, emphasized that investing in gold rings, when prices are high, needs to be carefully considered.
Gold rings can be a good choice for short-term storage or asset value preservation, but are not the optimal choice for profitable investment goals due to the risk of price correction.
The record high price of gold bars does not necessarily represent an ideal investment opportunity due to the high volatility of the market and the downward pressure on prices. Investors should consider diversifying their portfolios and looking for opportunities in other sectors, especially when the economy is in the process of recovery.
The State Bank of Vietnam has implemented measures to reduce the difference between domestic and world gold prices and stabilize the gold market, including organizing auctions and selling SJC gold bars. The price difference between SJC gold bars and gold rings compared to world prices has now decreased to about 4-5 million VND per tael.
The State Bank is also considering amending Decree 24 to improve management of gold production and trading, in line with actual market conditions.
Gold price forecast
Markets could be volatile this week due to non-farm payrolls and manufacturing data, with investors keeping an eye on a speech by Fed Chairman Jerome Powell.
Despite the volatility, analysts still expect gold prices to rise. Bart Melek of TD Securities believes gold prices could surpass $2,700 an ounce.
A Kitco News survey found that experts were divided, with half predicting higher prices and half predicting lower prices. The majority of retail investors (62%) believe that gold prices will rise.
Han Tan of Exinity Group believes that gold prices could reach $2,700 an ounce by the end of 2024 and could even reach $3,000 an ounce if the US economy does not decline.
